If the MPK/PK Is Greater Than the MPL/PL,which of the Following

question 128

Multiple Choice

If the MPK/PK is greater than the MPL/PL,which of the following is correct?

• A)The firm should substitute labour for capital.
• B)The firm should substitute capital for labour.
• C)The firm should raise the wage rate of its labour.
• D)The firm should decrease its output.

Understand the concept of insurable interest and its significance in insurance contracts.

Identify the coverage scope of business interruption insurance.

Recognize the decision-making power of the insured and insurer regarding repairs or replacements of damaged goods.

Comprehend the benefits of bundling types of liabilities in insurance for economic efficiency.

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